South-Eastern Asia: Spinach Market 2025

Spinach Market Size in South-Eastern Asia

In 2022, the Southeast Asian spinach market decreased by -12.5% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.0% against 2017 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Spinach Production in South-Eastern Asia

In value terms, spinach production contracted sharply to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +55.9% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of 41% against the previous year. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Indonesia (X tons) remains the largest spinach producing country in South-Eastern Asia, accounting for 68% of total volume. Moreover, spinach production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tons), twofold.

In Indonesia, spinach production remained relatively stable over the period from 2012-2022.

In 2022, the average yield of spinach in South-Eastern Asia rose modestly to X tons per ha, surging by 2.1% on 2021 figures. The yield figure increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the yield increased by 15%. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of spinach production in South-Eastern Asia declined to X ha, with a decrease of -4.9% compared with the previous year. Over the period under review, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 11%. As a result, the harvested area attained the peak level of X ha, and then declined slightly in the following year.

Spinach Exports

Exports in South-Eastern Asia

Spinach exports stood at X tons in 2022, approximately equating the previous year. Total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.5% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 52% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, spinach exports contracted to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted slightly in the following year.

Exports by Country

In 2022, Malaysia (X tons) represented the main exporter of spinach in South-Eastern Asia, achieving 99% of total export.

Malaysia was also the fastest-growing in terms of the spinach exports, with a CAGR of +1.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) also remains the largest spinach supplier in South-Eastern Asia.

In Malaysia, spinach exports expanded at an average annual rate of +3.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of -2.9% against the previous year. Overall, the export price, however, showed a mild expansion. The growth pace was the most rapid in 2020 when the export price increased by 23%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +1.4% per year.

Spinach Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of spinach decreased by -5.8% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, spinach imports stood at $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.1% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of 20%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Singapore dominates imports structure, resulting at X tons, which was near 81% of total imports in 2022. It was distantly followed by Thailand (X tons) and Malaysia (X tons), together mixing up a 17% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of spinach. At the same time, Malaysia (+7.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +7.8% from 2012-2022. By contrast, Thailand (-2.3%) illustrated a downward trend over the same period. Malaysia (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Singapore saw its share reduced by -2.4% and -2.9% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported spinach in South-Eastern Asia, comprising 72% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+15.7% per year) and Thailand (+6.6% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 6.5% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spinach import price increased by +69.5% against 2013 indices. The growth pace was the most rapid in 2021 when the import price increased by 15%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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